Wednesday, May 12, 2010

The Aw-Schucks bill

theOnion
WASHINGTON—Securities and Exchange Commission officials are calling it the strictest regulatory reform since the Great Depression: CEOs of major financial institutions will now be required to humbly shrug and smile sheepishly before accepting huge salary bonuses.The new regulation, SEC rule 206(b)-7, will reportedly target Wall Street executives who accept disgustingly bloated annual payouts, forcing them to raise and then lower their shoulders in a manner that conveys a mild degree of humility or a sense of "Aw, shucks. Who? Me?"

"This sweeping new reform sends a clear message to fat-cat CEOs at firms like Goldman Sachs and AIG," SEC chair Mary Schapiro said Monday. "Never again will they be able to receive massive bonuses unless, at a minimum, they flash a gee-I-don't-think-I-should expression and say something like 'Well, all right, but only if you insist' first."

"Mark my words," she continued, "The days of greedy, out-of-touch executives pocketing outrageous $40 million bonuses without acting slightly embarrassed about it are over."

I suppose you didn't think they would attack high frequency trading would you? Where they give those players all your trading intentions!

Goldman Sachs advisor and hermaphrodite Elana Kagan(Ana Pauker)SC nominee says: "I take it as a given that we live in a society marred by racial and gender inequality, that certain forms of speech perpetuate and promote this inequality, and that the uncoerced disappearance of such speech would be cause for great elation." Sweet

On page 18 of that presentation you will see that Yamana Gold is exploring an area right next to their concessions. Obviously I believe there were discussions, and I believe MGOL rebuffed their overtures.

Read the January 7, 2010 25 page press release, and on page 12, you will see that AUY has a project in Anori. So why now is AUY interested in more area around Anori?

Maybe they are finding gold?

So follow me, and you'll understand.

What would you do, if you were AUY, and you found gold, and you inquired about MGOL's concessions in Anori, and let's say you were rebuffed. Wouldn't you then, see if you get get any more land around there?

So what did AUY do? Check this out. They picked up a concession, from another company and quite frankly, who cares about the one they picked up. From what I know, they didn't get the good stuff, but then, I have older mining data, that still needs to be proved out with modern methods, so take it just as an opinion, until the assaying gets done. We'll see.

So AUY, gets a concession from Colombian mines on May 10. May 9, was when all the license fees had to be paid on concessions, so it looks like let's cut a deal, and take whatever AUY is offering. Heck, AUY wasn't getting concessions in Colombia in 2001 or 2002 or 2003 when you get get killed in the jungle,like MGOL was so they do whatever any big mining company does. They try an exploit a weaker company.

-- Yamana may earn a 60% interest by a) paying $1 million to Colombian Mines, b) fully funding at no cost to Colombian Mines, $2 million in exploration expenditures and c) completing a fully compliant NI 43-101 technical report defining mineral resources and mineral reserves, of which a minimum 30% must be classified in the proven and probable mineral reserve categories.

ANORÍ, ANTIOQUIA, Colombia--(BUSINESS WIRE)--MGOL (OTCBB:MGOL - News) (“MGOL”) announces the formation of a new joint venture into which MGOL and its joint venture partners have contributed 17,736 acres of mining contracts and mining claims near the town of Anorí in the Department of Antioquia, Colombia (the “Anorí Project”).

The Anorí Project is located approximately 175 km northeast of Medellín. The property sits immediately adjacent to a number of local artisanal gold mines with historical mineral showings. MGOL has identified five areas of anomalous gold mineralization on the property and recently compiled available geotechnical data on 1:20,000 scale maps, utilizing ARC-GIS software. Previous surface samples surrounding the town of Anorí returned gold assays ranging up to 112.45 g/t (grams gold per tonne) over 1.6 meters along strike from the adjacent La Constancia vein (a historical artisanal mine). Reported gold assay values yields for the other four anomalous areas ranged up to 39.03 g/t over 1.0 meters.

The Anorí Project consolidates the partners’ ownership of the mining concessions for more efficient capitalization and exploration. The partners consist of MGOL and its affiliate, Minatura International LLC (the “Majority Partners”), and several Colombian individuals and entities (the “Junior Partners”). The Junior Partners hold 14% ownership. The remaining 86% ownership will be allocated between the Majority Partners based on a third party evaluation of the relative values of the mining rights contributed by the Majority Partners (the “Evaluation”).

So now MGOL has 17,736 acres in Anori. Did the market know about that? of course not. It was in Minatura International LLC. they only knew about the 1500 acres.

Maybe the work they did shows that there is gold?

So let's pretend you are playing poker. Do you show people your cards? Why was AUY sniffing around anyway. Maybe they read SEC filings, and they talk to people and view the claims, and they saw MGOl and it's Anori claim.

Obviously MGOL could talk about the Anori project, because they had already gotten the land around the project that they were talking about.

Look at Ventana, who are exploring for gold in Colombia

http://finance.yahoo.com/q/bc?s=VEN.TO&t=2y&l=off&z=m&q=l&c=

That stock is 11, worth a billion dollars; a year and a half ago, it was pennies.

What are they working on? Check out there story, and you'll see. Then look at all the concessions MGOL has, and do the math.

OK so that's one project--and I'm not even giving any comparative data etc--what happens if you want to do that exercise 100X?

So throw in some acreage in Anori, and let the drill results eventually speak for itself.Now, the market probably needs clarification on the concessions on Minatura International LLC and the vending in of those into MGOL, but too bad. That will take time.